Contents -

Form 1098-C

NOTE

ANY INSTRUCTIONS CONTAINED HEREIN ARE ADVISORY ONLY.

REFER TO IRS INSTRUCTIONS FOR OFFICIAL INFORMATION.



Form 1098C - Contributions of Motor Vehicles, Boats, and Airplanes.

Used to report the amount contributed from a qualified vehicle that has a claimed value of more than $500.  A qualified vehicle is any motor vehicle manufactured primarily for use on public streets, roads, and highways; a boat; or an airplane.  However, property held by the donor primarily for sale to customers, such as inventory of a car dealer, is not a qualified vehicle.

Payee Information

Account number (Required)
Enter any number assigned by the payer to the payee that can be used by the IRS to distinguish between information returns.  This number must be unique for each information return.  The account number is critical in the correction process, especially when more than one information return is filed for a payee.  MAG-FILER will automatically assign an account number if the field is blank.

TIN # (Required)
Enter the payee's valid 9-digit Taxpayer Identification Number (SSN or EIN, as appropriate).  Leave this field blank if the TIN# is unknown.   Any form filed containing an invalid identification number in this entry may be returned for correction.

SSN  (else EIN) (Required)
Check this box if the payee TIN # is a Social Security Number (SSN) of an individual.  Leave this box blank if the payee TIN # is an Employer Identification Number (EIN) of a business or an organization.

NOTE: Imbedded blanks, extraneous words, titles, and special characters ( i.e., Mr., Mrs., Dr., period [.], apostrophe [ ' ] should be removed from Payee Name Lines.  An ampersand (&) and a dash (- ) are the only acceptable special characters.  A comma ( , ) between last name and first name that is placed by MAG-FILER is also acceptable.

Name (Required)
Enter the name of the recipient belonging to the Taxpayer Identification Number (TIN).  If the TIN, is an SSN, enter as last name suffix, first, middle initial, e.g., Doe Jr., John A.).  If the TIN is an EIN, the name is entered as is.  Use the Second Name Field if additional space is required.

Second Name Field
If the payee name requires more space than is available in the name field, enter only the remaining portion of the name in this entry.  If there are multiple payees, this field may be used for those payees' names.
   ** DO NOT USE THIS FIELD FOR ADDRESS INFORMATION.
   ** The pre-printed IRS form does not have a line for the 2nd Payee name when
     for printing to the official Copy A used for paper filing to the IRS (MAG-FILER
     pre-printed selection).  However, the second name field will print to 
     MAG-FILER's laser created recipient forms (pre-printed unchecked) under
     "Which copy" and will also be included in the IRS file for e-filing. 

Address (Required)
Enter the recipient's mailing address.  This entry must not contain any data other than the recipient's mailing address.  The address is split into two fields.  Enter the main mailing address in the first field and the supplementary address in the second field on the right.

City (Required)
Enter the payee's city.  Do not enter state and zip code information in this entry.

State (Required)
Enter the abbreviation for the payee's state or foreign country.  You must use valid U.S. Postal Service state abbreviations for U.S. addresses.

Zip (Required)
Enter the payee's valid 9-digit zip code assigned by the U.S. Postal Service.
 
Date of contribution:
Enter the date you received the motor vehicle, boat, or airplane in format MMDDYYYY.

Make, model and year:
Make, Model, and Year of Vehicle.  Enter this information in the order stated.  For example, enter "Ford Explorer, 2000", "Piper Cub, 1962", or "Larson LXI 210, 2002".

VIN (Vehicle identification number) 
Vehicle or Other Identification Number. For any vehicle contributed, this number is generally affixed to the vehicle.  For a motor vehicle, the vehicle identification number is 17 alpha/numeric characters in length.  For a boat, the hull identification number is 12 characters in length and is usually located on the starboard transom.  For an airplane, the aircraft identification number is 6 alpha/numeric characters in length and is located on the tail of a U.S. aircraft.

Arms length transaction:
Vehicle Sold in Arm's Length Transaction to Unrelated party. If the vehicle is sold to a buyer other than a needy individual (as explained in the instructions, Below FMV) without a significant intervening use or material improvement (as explained in the instructions, Improvements), you must certify that the sale was made in an arm's length transaction between unrelated parties.  Check this box to make the certification.  Also fill in Date of sale and Gross proceeds from sales. 

Date of sale: 
If you checked the Arms Length Transaction, enter the date that the vehicle was sold in the arm's length transaction.  Use format MMDDYYYY.

Gross proceeds: 
Gross proceeds from sale - If you checked the Arms Length Transaction, enter the gross proceeds from the sale of the donated vehicle.  This is generally the sales price.  Do not reduce this amount by any expenses or fees.  Skip this field if the qualified vehicle has a claimed value of $500 or less.

Improvements: 
Vehicle Will Not Be Transferred Before Completion of Material Improvements or Significant Intervening Use.  For a vehicle which you intend to make a significant intervening use or material improvement, you must check this box to certify that the vehicle will not be transferred for cash, other property, or services before completion of the improvement or use.  Also fill in the vehicle description.  Skip this field if the qualified vehicle has a claimed value of $500 or less.

Below FMV 
Vehicle To Be Transferred to a Needy Individual for Significantly Below Fair Market Value. Check this box if you intend to sell the vehicle to a needy individual at a price significantly below fair market value or make a gratuitous transfer of the vehicle to a needy individual in direct furtherance of your organization's charitable purpose of relieving the poor and distressed or underprivileged who are in need of a means of transportation.  Do not enter any amount in gross proceeds from sales.  The donor's contribution for a sale for this purpose is not limited to the gross proceeds from the sale.  Skip this field if the qualified vehicle has a claimed value of $500 or less.

Description of Material Improvements or Significant Intervening Use and Duration of Use
Describe in detail the intended material improvements to be made by the organization or the intended significant intervening use and duration of the use by the organization.  Skip this field if the qualified vehicle has a claimed value of $500 or less.

Goods and services - Exchanged
Did you provide goods or services in exchange for the vehicle?  Check the Yes or No box to indicate whether you provided goods or services to the donor in exchange for the vehicle described.

Goods and services - Value
Value of goods and services provided in exchange for the vehicle.  If the goods and services box is checked, enter a good faith estimate of the value of those goods and services including intangible religious benefits.  Include the value of any goods and services you may provide in a year other than the year that the qualified vehicle was donated.

Goods and services - Description
Description of goods and services, if any, that were provided. Describe in detail the goods and services, including intangible religious benefits, that were provided to the donor.  

Goods and services - Intangible religious benefits
Check this box if donee certifies that the goods and services consisted solely of intangible religious benefits. 

$500 deduction limit
Under the law, the donor may not claim a deduction of more than $500 for this vehicle.
If the vehicle has a claimed value of $500 or less or the donor did not provide a taxpayer identification number, you must check this box.

Special 
This area may be used to record information for state or local government reporting or for the filer's own purposes.  This information will be sent to the IRS file and does not print to the form.

Select Print
Check this box to select specific payees for printing.

Corrected Return
Check this box if this entry is a corrected return.  This is only used IF YOU HAVE ALREADY SUBMITTED MAGNETIC MEDIA FILING and wish to print or file corrected returns.  NOTE: The same account number reported on the original must also be on the corrected record.